HomeMy WebLinkAbout1990-07 CRA
.
RESOLUTION NO. 90- 07
REL:mb(14)
5/18/90
A RESOLUTION OF THE COMMUNITY REDEVELOP-
MENT AGENCY OF THE CITY OF SANTA ANA
MAKING CERTAIN FINDINGS PURSUANT TO
SECTION 33334.2 OF THE COMMUNITY RE-
DEVELOPMENT LAW FOR FISCAL YEAR 1990-91.
WHEREAS, section 33334.6 was added to the Community
Redevelopment Law (Health and Safety Code Sections 33000 et ~.)
by Chapter 1135 of the Statutes of 1985 of the State of Cali-
fornia (Assembly Bill No. 265); and
WHEREAS, said section 33334.6 has the effect of re-
quiring, subject to certain exceptions, that the Community
Redevelopment Agency of the City of Santa Ana (the "Agency")
deposit at least 20 percent of the tax increment revenues from
its original ("Central City") redevelopment project area (as
established by the Santa Ana Redevelopment Plan as amended by
Ordinance No. NS-1258 on June 2, 1975) into said Agency's "Low
and Moderate Income Housing Fund;" and
.
WHEREAS, among the exceptions to said requirement
is the exception set forth in paragraph (3) of subdivision (a)
of section 33334.2 of the Community Redevelopment Law, to the
effect that the Agency may, in lieu of providing such deposit
into the "Low and Moderate Income Housing Fund" from its tax
increment revenues from the "Central City" project area, pro-
vide an equivalent deposit of funds derived from other sources;
and
WHEREAS, the City of Santa Ana has created five
redevelopment project areas in addition to the "Central City"
redevelopment project area, and the Agency has, in three of these
additional project areas, allocated tax increment revenues well
in excess of the 20 percent minimum allocation to its "Low and
Moderate Income Housing Fund;" and
WHEREAS, the total of such excess allocations exceeds
20 percent of the tax increment revenues derived from the "Central
City project Area" for fiscal year 1990-1991;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS:
1. Pursuant to paragraph (3) of subdivision (a) of section
33334.2 of the Community Redevelopment Law, the Community Re-
development Agency of the City of Santa Ana hereby finds and
determines as follows:
.
RESOLUTION NO. 90- 07
PAGE TWO
.
(a) The City of Santa Ana is making a substantial
effort to meet its existing and projected housing needs,
including its share of regional housing needs, with respect
to persons and families of low and moderate income, particularly
very low income households, as identified in the housing element
of the City of Santa Ana's general plan, and this effort, con-
sisting of direct financial contributions of local funds used
to increase and improve the supply of housing affordable to
persons of low or moderate income and very low income house-
holds, is equivalent in impact to the funds otherwise required
to be set aside from the "Central City" project area by section
33334.2 of the community Redevelopment Law.
(b) The above said effort consists of the allocation
to the "Low and Moderate Income Housing Fund" of the Agency of
more than the legally required proportion (20%) of the tax
increment revenues from three redevelopment project areas, to
wit: the "Santa Ana Inter-City Commuter station" project area,
the "Santa Ana North Harbor Boulevard" project area, and the
"Santa Ana South Harbor Boulevard" project area (hereinafter
referred to collectively as the "other project areas"). In fis-
cal year 1990-91:
.
(1) Tax increment revenues from the "Central
City" project area are projected to be $8,192,000. Twenty
percent of said tax increment revenue total is $1,638,400.
(2) Total tax increment revenues from the other
project areas are projected to be $17,505,000. The
portion of said tax increment revenues which is legally
required to be allocated to the "Low and Moderate Income
Housing Fund" (20%) is $3,501,000. The amount of said
revenues which will actually be allocated to the "Low and
Moderate Income Housing Fund" is projected to be $5,691,000
an excess of $2,190,000 over the legally required portion
(the "excess allocation").
(3) The excess allocation of tax increment
revenues from the other project areas will be greater than
20 percent of the tax increment revenues of the "Central
City" project area. Therefore, the effort to meet the low
and moderate income housing needs of the City of Santa Ana
from revenue sources other than tax increment revenue from
the "Central City" project area is more than equivalent in
.
.
.
.
RESOLUTION NO. 90- 07
PAGE THREE
impact to the funds that would otherwise be required to be
allocated from the "Central City" project area tax increment
revenues.
2. The Executive Director is directed to send a copy of
this resolution, together with the factual information supporting
the findings herein made, to the Department of Housing and Com-
munity Development of the State of California within ten (10)
days after the date of adoption of this resolution.
ADOPTED THIS
by the following vote:
17th
, 1990,
JULY
day of
AYES:
MEMBE RS: ACOSTA, GRISET, MAY, NORTON,
MCGUIGAN, PULIDO & YOUNG
NOES:
MEMBERS:
ABSENT:
MEMBERS:
ATTEST:
~1!.~
Chairman
Cy~¿t~
Executive Director/Recording
Secretary
APPROVED AS TO FORM:
~~~
Edward J. Co per
Agency Lega Counsel